In Part I of our entry on Weinman v. Walker (In re Adam Aircraft Indus.
On July 23, in ASARCO LLC v. Union Pacific Railroad Company, et al. No. 13-1435 (10th Cir.), the Tenth Circuit rejected the notion that settlement requirements are different in the bankruptcy context. Section 113 of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), 42 U.S.C.
In recent installments of the Manufacturer’s Corner, we have discussed how to protect yourself from insolvent customers and how your shipping terms can expose you to unexpected risk.
A class of consumers suing the bankrupt Kangadis Food Inc. over its allegedly misleading olive oil purity claims is now suing the owners of the company in a separate class action aimed at holding them accountable.
Recoveries from fraudulent conveyance lawsuits can be a significant source of recovery for creditors of bankruptcy estates. Because a plaintiff seeking to avoid a prepetition transfer as constructively fraudulent must demonstrate that the debtor was insolvent or inadequately capitalized at the time of the challenged transfer, valuation analyses that support allegations of insolvency are critical.
On June 12, 2014, the Supreme Court unanimously upheld a Seventh Circuit decision that said inherited IRAs do not enjoy the protections of IRAs in bankruptcy proceedings.
In its recent decision, Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.),1 the Supreme Court reiterated and expanded on the reasoning in Stern v.
On June 17, 2014, the U.S. Bankruptcy Court in Dallas granted recognition under chapter 15 of the Bankruptcy Code of the bankruptcy proceeding in Japan of failed bitcoin exchange, Mt Gox. Mt. Gox shut down after claiming to lose over $500 million (at current values) of customers’ bitcoins, some of which were later located. Mt Gox sought chapter 15 protection in the United States to prevent U.S.
On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Ramekerthat an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded from a bankruptcy estate on that basis.
Summary
On June 9, 2014, in Executive Benefits Ins. Agency v. Arkison, the United States Supreme Court ruled that, pursuant to 28 U.S.C. § 157(c)(1), a bankruptcy court may make proposed findings of fact and conclusions of law in a Stern “core” proceeding subject to de novo review by an Article III court. To read the full decision, click here.
Facts